Robinhood Chain tops Solana in tokenized stocks as RWA volume hits $70M

Robinhood Chain's tokenized equity market has surpassed Solana's in daily trading volume, marking a milestone for the Arbitrum-based layer-2 network that launched less than a month ago.

Real-world assets on the chain now carry an active market value of about $70 million, a roughly fivefold jump in under two weeks, according to DefiLlama. The network's tokenized stock segment generated roughly $55 million in aggregate daily volume as of July 28, exceeding Solana's on-chain equity volumes for the first time.

"Robinhood's retail distribution advantage is converting into real on-chain equity volume faster than most expected," Jason Wu, an on-chain analyst, said. "The question is whether liquidity depth can sustain as larger allocators rotate in."

A dozen tokenized stocks now clear more than $500,000 in daily volume each, with five above $1 million. GameStop-linked tokens lead at $26.6 million, followed by Nvidia near $14 million and SpaceX near $6.4 million, per Dune Analytics data. The network's total value locked has roughly tripled since mid-July to about $312 million, while daily decentralized-exchange volume exceeds $600 million.

The milestone comes as Robinhood prepares to report second-quarter earnings on July 29. The chain launched July 1, too late to contribute to the quarter's results, but its rapid growth signals potential revenue diversification beyond the company's core brokerage business. Tokenized equity holders on Robinhood Chain reached 328,000, giving it a 44% share of the 752,000 total holders across all platforms, according to DWF Labs. Still, memecoins and stablecoins account for the majority of the chain's activity, with the PONS memecoin alone carrying a $44.7 million market cap — roughly matching the entire tokenized stock segment's value.

This article is for informational purposes only and does not constitute investment advice.